Template:Isda Waiting Period summ: Difference between revisions
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The {{isdaprov|Waiting Period}} for {{isdaprov|Illegality}} (Section {{isdaprov|5(b)(i)}}) is three {{isdaprov|Local Business Days}}; for a {{isdaprov|Force Majeure Event}} ({{isdaprov|5(b)(ii)}} it is | The point of {{isdaprov|Waiting Period}} is, for potential scenarios that might wind up justifying termination later, but you don’t yet know that, to build in a period to wait and see. For {{isdaprov|Illegality}} events (Section {{isdaprov|5(b)(i)}}) is three {{isdaprov|Local Business Days}} — it is not so likely that an {{isdaprov|Illegality}} will sort itself out; for a {{isdaprov|Force Majeure Event}} ({{isdaprov|5(b)(ii)}} — where insh’Allah, things will come right and everyone can eventually go back to what they were doing, it is ''eight'' {{isdaprov|Local Business Days}}. | ||
{{isdaprov|Waiting Period}}s — as defined in the {{isdama}} also sometimes show up sometimes in other booklets — for example, ISDA’s [[Emissions Annex]]. | |||
Revision as of 10:49, 23 June 2023
The point of Waiting Period is, for potential scenarios that might wind up justifying termination later, but you don’t yet know that, to build in a period to wait and see. For Illegality events (Section 5(b)(i)) is three Local Business Days — it is not so likely that an Illegality will sort itself out; for a Force Majeure Event (5(b)(ii) — where insh’Allah, things will come right and everyone can eventually go back to what they were doing, it is eight Local Business Days.
Waiting Periods — as defined in the ISDA Master Agreement also sometimes show up sometimes in other booklets — for example, ISDA’s Emissions Annex.